Electric vehicle (EV) maker Nio Inc's chief executive said it may list its new Nio China entity, as the cash-strapped company eyed a rebound after selling fewer vehicles during the coronavirus outbreak.
- Electric vehicle maker Nio Inc’s chief executive said it may list its new Nio China entity, as the cash-strapped company eyed a rebound after selling fewer vehicles during the coronavirus outbreak.
Nio’s total revenue stood at 1.37 billion yuan in the first quarter, the company reported earlier, compared with an average analyst estimate of 1.67 billion yuan, according to IBES data from Refinitiv.Auto sales in China tumbled 31% in the first four months of this year from a year earlier as the coronavirus outbreak disrupted production and delivery of vehicles.
Nio delivered 3,838 vehicles in the first quarter ended March 31, down from 3,989 vehicles in the same period of 2019. Sales from vehicles fell 18.2% to 1.26 billion yuan, the company said.
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